Personal Bankruptcy - GET IT DONE YOUR WAY

Anbabent By Anbabent, 27th Aug 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/1w6vibu6/
Posted in Wikinut>Money>Debt

You need to list any and all property you have like real property, jewellery, stocks, bonds and your vehicle. Like I said they will allow you to reaffirm your financial troubles on your house and vehicle even under the Chapter 7 personal bankruptcy laws. You may have to attend a credit-counselling program before you go up in front of the judge before your case will be discharged.

Personal Bankruptcy

If you have found in the recent past that you are drowning in debt and do not know where to change, you can battle your way back to the surface and try to get out of debt on your own or, you can declare personal bankruptcy.

If you find this is necessary because you can no longer pay your bills as agreed, it offers you legal safety from your creditors. When your case has been filed and it is pending, your creditors cannot sue, repossess the property, or garnish your wages to gather what is owed. Once the process is over, you no longer lawfully owe the bills included in this filing.

There are a couple of ways to do it. You are able to declare personal bankruptcy by filing a Chapter 7, which forgives all personal debt except for taxes, student loans, and delinquent child support payments, Or you can document Chapter 13, which is a personal debt restructuring to be able to pay your financial troubles off.

Filing a Chapter 7 will remain on your credit report for 10 years and Chapter 13 will remain on your credit report for 7 years.

You are able to hire a lawyer to file for you or you can learn how to do it yourself. If you choose to file either way the process begins along with you collecting and organizing all of your past due personal debt. There are certain things the court will need from you to move through the process as smoothly as you possibly can.

Start by getting your free copy of your credit report from each of the three credit agencies. You are allowed one per 12 months from each of them. You are able to order them online from each of the websites of the particular agencies.

Once you have them in hand, list all of your personal debt on a separate sheet of paper. If you have employed a lawyer they will send you a form to do this with. If not then sit down with a pen and paper and list everything. If you own a house, you will be able to reaffirm the debt you owe on the house and a car as well. List everything including these two things. Include anything that is not on the credit report like recent medical bills, dental bills, utilities owed and anything else you can think of.

Make copies of your last three years' tax returns, recent check stubs, and lender statements. If you do not have them then you need to spend the time finding out where to get them and ask for copies. This may cost you some extra money to have them make you copies so try to hang on to them when you receive them.

Now you need to list any and all property you have like real property, jewellery, stocks, bonds and your vehicle. Like I said they will allow you to reaffirm your financial troubles on your house and vehicle even under the Chapter 7 personal bankruptcy laws. You may have to attend a credit-counselling program before you go up in front of the judge before your case will be discharged.

Tags

Bank Loan, Bankrupt, Bankruptcy, Personal Credit, Personal Finance Issue, Personal Financial Declaration, Personal Loan

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author avatar Anbabent
I am a self proclaimed writer, with broad knowledge in all ramification. My contribution in terms of writing and posting on Wikinut would definitely be much appreciated.

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author avatar Lady Aiyanna
28th Aug 2015 (#)

You know Debbie Rowe, ex-wife of Michael Jackson was a bankrupt and was married too. She found Mr. Money Bags aka Michael went womb on rent and produced two white babies for the black man and he got the blame for his flamboyant lifestyle. She called herself a friend too but this was her method of getting out of bankruptcy.
Now for poor people like myself, well, learn to live within means and have a lifestyle and kick the big spender out. If I was still with my childs father, I would have been bankrupted today because of his mental ill-health of excessive spending inappropriately, meaning not for the family.
Now I don't care about the legality, I have my money to live and I don't need to be bankrupted because of my crime of marriage to a man with a mental disorder. I walked out on him with my child and took all legal rights and signatory rights of ALL lawyers and went to live life again and saved myself from bankruptcy while he sits in a mental home with his mummy dearest and rest of the family who advised him against his wife and kid.
The bank and their lawyers are now mad as they cannot talk or get any signature from me as they don't know where I am and I don't need them to know either. They can go hang themselves and declare themselves insolvent as there is a clause in the legal books for women with under 18 kids and houses.
None the less, I have proof they hurt my employment, sent killers after me and what not to the extent that I am now in hiding until I am ready to come out to the world again.
I know many don't mind me dead but that is their heartless insensitive mediocre cheap upbringing that proves their attitude to life. I kick many like this out everyday....

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